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Aspen Bermuda's Kendall Re cat bond has priced at 525 basis points, at the lowest end of the reinsurer’s revised forecasts, Trading Risk understands.
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Nationwide Mutual has launched a new Caelus Re cat bond, which will help to replace ILS cover that is expected to be drawn down by nearly $150mn following last year’s catastrophe activity.
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The Prudential Regulation Authority has been praised for its efficiency in approving the first transaction to be launched under the UK’s new ILS regime.
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Increased (re)insurance M&A activity may spark an increase in reinsurance buying and bring more risk to ILS markets, according to Aon Securities CEO Paul Schultz.
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Everest Re's new Kilimanjaro Re cat bonds have settled at $525mn as pricing dropped to the lower range of tightened guidance.
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The target size of Aspen Bermuda's Kendall Re 2018-1 cat bond has increased by 50 percent to $225mn
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Florida's state-backed carrier Citizens has launched a $200mn Everglades Re cat bond which will provide it with protection against named storms in the state of Florida, sources said.
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The combined target size of Everest Re's new Kilimanjaro Re cat bonds has jumped by 75 percent from $300mn to $525mn
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The combined target size of Everest Re's new Kilimanjaro Re cat bonds has jumped by 75 percent from $300mn to $525mn as pricing dropped to the lower range of tightened targets, according to sources.
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ILS lawyer Albert Pinzon has joined Cohen Tauber Spievack & Wagner (CTSW) in New York, where he will advise on life insurance and other products.
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Pricing for Everest Re's Kilimanjaro Re series 2018-1 and 2018-2 cat bonds has decreased by 7.3 percent for the high-risk class A notes and 9.5 percent for the less-risky class B notes, according to sources.
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International Development Secretary Penny Mordaunt will be announcing a UK aid package to strengthen resilience in the Caribbean and a number of other insurance-related initiatives at Lloyd's later today.
